Treatment of Rent to Own Property in Divorce

My question involves a marriage in the state of: Georgia. My wife and I are going through a divorce but our home is a rent to own contract. We are only 6 payments away from completion of the contract. Can this be added to the divorce decree or would it need to be in a separate agreement between me and the soon to be ex-wife?

Re: Divorce

Quoting Justin Bowles

My question involves a marriage in the state of: Georgia my wife and I are going through a divorce but our home is a rent to own contract. We are only 6 payments away from completion of the contract. Can this be added to the divorce decree or would it need to be in a separate agreement between me and the soon to be ex-wife?

I would strongly recommend that you and your wife delay the divorce until AFTER you have completed the rent to own contract and have the deed firmly in your names. The last thing you want to have happen is the seller/landlord finding some loophole to deny you the deed to the house.

Re: Treatment of Rent to Own Property in Divorce

Quoting Justin Bowles

...our home is a rent to own contract. We are only 6 payments away from completion of the contract.

You should be able to complete the contract after the divorce, and address issues of title / division of equity in your divorce, but I suggest that you have your rent/purchase contract reviewed by your divorce lawyer (or a real estate lawyer) and also that any provisions governing your future treatment of the properties be written by one of your lawyers and reviewed by the other.

With six payments to go, if you are able to do so, you may be able to pay off the balance of the "rent to own" agreement early and effect a title transfer now, then address the division of the home or equity without having any further complication from the "rent to own" arrangement.

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